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SINGAPORE : Mainboard-listed synthetic rubber manufacturer Ziwo Holdings said on Friday that it has won a new contract worth 670,000 yuan or about S$137,000.
It said it has secured its first sales order for bullet-proof vests made using its patented bullet-proof vest material.
Developed in-house, Ziwo said the bullet-proof vest is suitable for use in aerospace and military applications, flame- and heat-resistant clothing.
The firm added that the bullet-proof vests open a new revenue stream.
That is because there are presently only four large manufacturers of its type of bullet proof vests in the world.
Ziwo also said it is qualified to supply its bullet-proof vest material to the police, military and civilian security forces in China and globally.
As the initial capital investment for in-house production of the bullet-proof vest material is considerably large, Ziwo intends to outsource the production for now.
It will outsource until it is able to establish a market of sufficient scale. - CNA/ms
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